In the ever-evolving world of human services, understanding the trends that shape donor behavior is essential for sustained success. The 2024 Human Services Benchmark Report provides crucial insights into how human services organizations can optimize their fundraising strategies and create a lasting impact.
Top Takeaways from the Report
Donor Retention Matters More Than Ever: Attracting new donors is costly, but retaining existing supporters can be much more effective. With nearly half of donors not giving again the next year, strategies like pre-lapsed campaigns and investing in recurring giving are essential to maintaining a stable donor base.
Average Gift Amounts Hold Untapped Potential: While human services organizations see slightly lower average gift amounts compared to other sectors ($121.97 vs. $126.49), the opportunity for growth is significant. By focusing on dynamic gift ask arrays and upgrading one-time donors to recurring supporters, organizations can drive meaningful increases in giving.
New Donor Acquisition Remains a Challenge: Human services organizations are slightly outperforming the industry in acquiring new donors (27.63% vs. 27.60%), but it’s crucial to focus on effective acquisition channels that provide long-term value. Understanding the cost of acquiring new donors and focusing on channels with the best retention rates can transform acquisition efforts.
Recurring Giving Builds Financial Resilience: Recurring donations offer a steady revenue stream that can smooth out the ups and downs of seasonal fundraising. Implementing branded monthly giving programs and converting smaller donors into regular supporters can significantly boost your organization’s financial stability.
Leverage Data to Maximize Donor Lifetime Value (LTV): The report highlights that human services organizations have a higher LTV ($928) compared to the industry average ($648). By focusing on strategies that increase donation frequency, size, and engagement, nonprofits can maximize this value and build deeper relationships with their donors.
Prepare for the Future with Data-Driven Insights
The insights from the 2024 Benchmark Report can serve as a roadmap for human services organizations looking to strengthen their fundraising strategies. By understanding these key metrics and applying actionable tactics, nonprofits can ensure they’re making the most of their resources and creating a sustainable path forward.
Ready to Dive Deeper?
Download the full 2024 Human Services Benchmark Report and uncover more data-driven strategies to elevate your nonprofit’s impact. Click here to access the report and start transforming your approach to fundraising today!
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